Banco Santander (Brasil) (NYSE:BSBR) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a neutral rating to an overweight rating in a report released on Monday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $6.00 target price on the bank’s stock, down from their previous target price of $7.00.

Separately, StockNews.com raised shares of Banco Santander (Brasil) from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Banco Santander (Brasil) Trading Up 1.5 %

Shares of NYSE:BSBR opened at $4.60 on Monday. Banco Santander has a 12 month low of $4.32 and a 12 month high of $6.66. The business’s 50 day simple moving average is $4.97 and its 200-day simple moving average is $5.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30.

Banco Santander (Brasil) Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, October 21st were paid a $0.0714 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.29 annualized dividend and a yield of 6.21%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of Banco Santander (Brasil) by 220.0% in the first quarter. BNP Paribas Financial Markets now owns 7,095 shares of the bank’s stock worth $41,000 after buying an additional 4,878 shares during the period. GAMMA Investing LLC raised its stake in shares of Banco Santander (Brasil) by 183.6% during the third quarter. GAMMA Investing LLC now owns 9,751 shares of the bank’s stock valued at $51,000 after purchasing an additional 6,313 shares during the period. Barclays PLC lifted its position in shares of Banco Santander (Brasil) by 221.4% during the third quarter. Barclays PLC now owns 12,428 shares of the bank’s stock worth $65,000 after purchasing an additional 8,561 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Banco Santander (Brasil) by 41.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the bank’s stock valued at $71,000 after purchasing an additional 4,387 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Banco Santander (Brasil) during the third quarter worth about $85,000. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander (Brasil) Company Profile

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.